'Exclusive 59㎡ Units' Pungmu Station Area Sujain Gracent Phase 1, Subscription Competition Peaks at 12.5 to 1 [Real Estate AtoZ]

Average Competition Ratio of 6.7 to 1 in First-Round Subscription
Price Ceiling Applied, Comparable to 'Magok Jeonse' Rates
Full Interim Payment Loans Available in Non-Regulated Area

'Pungmu Station Area Sujain Gracent Phase 1' (Pungmu Station Area Urban Development Project B2 Block) in Sau-dong, Gimpo, Gyeonggi Province, achieved success in its first-priority subscription, recording an average competition ratio of 6.7 to 1. The strong demand was driven by the fact that it is the only development in the Pungmu Station Area this year to offer a compact 59㎡ unit, combined with favorable loan conditions in this non-regulated area.

According to Korea Real Estate Board's subscription platform on November 19, a total of 3,534 applications were submitted for 528 units (excluding special supply) during the first-priority subscription held the previous day, resulting in an average competition ratio of 6.7 to 1. The highest competition ratio was seen in the 59㎡B unit type, with 262 applications for 21 units, reaching 12.5 to 1. All other unit types also recorded strong results across the board.

Aerial view of 'Pungmu Station Area Sujain Gracent Phase 1' in Sau-dong, Gimpo-si, Gyeonggi Province. BS Hanyang

Industry experts say that this outcome was anticipated. The development's "dual location," sharing the living spheres of both Pungmu Station and Sau-dong, its reasonable price set by the presale price ceiling system, and its excellent product design all contributed to its popularity.

The presale prices were set at the low to mid-500 million won range for the 59㎡ units, and from the mid-600 million won to low-700 million won range for the 84㎡ units. These prices are comparable to the jeonse (long-term lease) prices for similar-sized units in the nearby Magok district of Seoul.

In particular, unlike other major areas in the Seoul metropolitan region that have recently been subject to stricter regulations under the October 15 measures, this development is located in a non-regulated area, making it possible to obtain full interim payment loans, which has further boosted demand.

The scarcity value of being the only project in the Pungmu Station Area Urban Development this year to offer a compact 59㎡ unit also played a significant role. A representative from the sales team stated, "We have received inquiries not only from Gimpo but also from Seoul and other regions."

In front of the model house of 'Pungmu Station Area Sujain Gracent Phase 1,' which opened on the 7th within a 2-minute walk from Pungmu Station in Gimpo, Gyeonggi Province, a queue continued even before the doors opened. Photo by BS Hanyang

Pungmu Station Area Sujain Gracent Phase 1 will consist of 10 buildings, ranging from 2 basement levels to 29 above-ground floors, with a total of 1,071 units. By unit type, there are 261 units of 59㎡A, 60 units of 59㎡B, and 750 units of 84㎡.

All units feature the highly preferred four-bay plate layout, maximizing space utilization with amenities such as dressing rooms and pantries. Community facilities for residents will include a multipurpose gymnasium and themed landscaping.

Accessibility to local amenities is another strength. Sau Elementary and Sau High School are nearby, and the Sau-dong academy district is within walking distance. Gimpo City Hall, the courthouse, major hospitals, Homeplus, and Emart Traders are also close by. Both Pungmu Station and Sau Station are accessible on foot, and with the planned extension of Subway Line 5 to Pungmu Station, future access to Magok, Yeouido, and Gwanghwamun is expected to improve.

The upcoming schedule includes the announcement of successful applicants on November 25, followed by contract signing at the model house for five days from December 8 to 12. The model house is located near Pungmu Station on the Gimpo Gold Line.